Financial advisory service helps the end users in financial planning to achieve their future goals. In addition, it means planning for future financial needs by investing in return oriented instruments. Moreover, as an individual, it is difficult to evaluate various investment instruments and market cycle. Thus, financial advisory services play a major guiding role in financial planning.
Increase in demand for financial advisory services among SMEs and constant rise in global high-net-worth individuals boost the growth of the financial advisory services market. In addition, factors such as increasing demand for alternative investments positively, impact the growth of the market. However, lack of awareness about financial advisory services and higher dependency on traditional methods are expected to hamper the market growth. On the contrary, rising innovations in the Fintech industry and untapped potential of emerging economies are expected to offer remunerative opportunities for expansion of the market during the forecast period.
The global financial advisory services market is segmented on the basis of type, organization size, industry vertical, and region. In terms of type, the market is fragmented into corporate finance, accounting, advisory, tax advisory, transaction services, risk management, and others. Depending on organization size, it is bifurcated into large enterprises and small & medium-sized enterprises. In terms of industry vertical, it is segmented into BFSI, IT and telecom, manufacturing, retail and e-commerce, public sector, healthcare, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific and LAMEA.
Some of the key players operating in the global financial advisory services market include Accenture Inc., Bank of America Corporation, Citigroup Inc., CREDIT SUISSE GROUP AG, Goldman Sachs, JPMorgan Chase & Co., Morgan Stanley, Northern Trust Corporation, PwC, and Wells Fargo. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
Increase in demand for financial advisory services among SMEs and constant rise in global high-net-worth individuals boost the growth of the financial advisory services market. In addition, factors such as increasing demand for alternative investments positively, impact the growth of the market. However, lack of awareness about financial advisory services and higher dependency on traditional methods are expected to hamper the market growth. On the contrary, rising innovations in the Fintech industry and untapped potential of emerging economies are expected to offer remunerative opportunities for expansion of the market during the forecast period.
The global financial advisory services market is segmented on the basis of type, organization size, industry vertical, and region. In terms of type, the market is fragmented into corporate finance, accounting, advisory, tax advisory, transaction services, risk management, and others. Depending on organization size, it is bifurcated into large enterprises and small & medium-sized enterprises. In terms of industry vertical, it is segmented into BFSI, IT and telecom, manufacturing, retail and e-commerce, public sector, healthcare, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific and LAMEA.
Some of the key players operating in the global financial advisory services market include Accenture Inc., Bank of America Corporation, Citigroup Inc., CREDIT SUISSE GROUP AG, Goldman Sachs, JPMorgan Chase & Co., Morgan Stanley, Northern Trust Corporation, PwC, and Wells Fargo. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the financial advisory services market analysis from 2020 to 2030 to identify the prevailing financial advisory services market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the financial advisory services market outlook segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global financial advisory services market opportunity, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Corporate Finance
- Accounting Advisory
- Tax Advisory
- Transaction Services
- Risk Management
- Others
By Organization Size
- Large Enterprises
- Small Medium-Sized Enterprises
By Industry Vertical
- Bfsi
- It And Telecom
- Manufacturing
- Retail And E-Commerce
- Public Sector
- Healthcare
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- Australia
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Bank of America Corporation
- BCG Group
- Goldman Sachs Group Inc.
- JPMorgan Chase & Co.
- Morgan Stanley
- Deloitte
- mckinsey & company
- KPMG
- Pwc
- Wells Fargo & Co
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: FINANCIAL ADVISORY SERVICES MARKET, BY TYPE
CHAPTER 5: FINANCIAL ADVISORY SERVICES MARKET, BY ORGANIZATION SIZE
CHAPTER 6: FINANCIAL ADVISORY SERVICES MARKET, BY INDUSTRY VERTICAL
CHAPTER 7: FINANCIAL ADVISORY SERVICES MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Financial Advisory Services Market,' the financial advisory services market was valued at $79.4 billion in 2020, and is estimated to reach $135.6 billion by 2030, growing at a CAGR of 5.8% from 2021 to 2030.A financial advisor provides financial advice or guidance to customers for compensation. In addition, financial advisors can provide many different services, such as investment management, tax planning, and estate planning. Increasingly, financial advisors are acting as a one-stop-shop by providing everything from portfolio management to insurance products. Furthermore, key factors that drive the growth of the global financial advisory services market include increase in demand for financial risk advisory services among SMEs and constant rise in global high-net-worth individuals. In addition, factors such as increasing demand for alternative investments, positively impact the financial advisory services market growth. However, lack of awareness about financial advisory services and higher dependency on traditional methods are expected to hamper the market growth. On the contrary, rising innovations in the Fintech industry and untapped potential of emerging economies are expected to offer remunerative opportunities for expansion of the financial advisory services market trends during the forecast period.
In terms of organization size, the large enterprise segment holds the largest global financial advisory services market share, as it is helpful for business development and expansion by providing services such as transaction services and risk management services. However, the small & medium-sized enterprises segment is expected to grow at the highest rate during the forecast period, as with the help of a financial advisor, complex financial processes can be completed swiftly, providing business owners and decision-makers more time to make critical financial decisions.
Region wise, the global financial advisory services market size was dominated by North America in 2020, and is expected to retain its position during the forecast period, due to presence of large number of high net worth individuals in North America and high competition among banks such as UBS, Morgan Stanley, and Bank of America Corporation, to offer maximum benefits. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to the start-up culture picking pace, China and India represent the largest opportunity and have the highest proportion of Ultra-High Net Worth (UHNW).
The COVID-19 pandemic has increased the importance of digital transformation systems in financial advisory services. Technology-driven financial advisory services startups are increasingly offering clients with digitized and long-term financial planning through robo-advisors. Following this trend, many investors, especially from the millennial generation, are adopting technology platforms in their financial advisory services strategies. In addition, Capgemini’s ‘World Wealth Report’ found that younger high net worth individuals (HNWI) were willing to transfer their wealth via an automated advisor such as the robo-advisors. Moreover, increased adoption of advanced technologies such as chatbots, IoT, AI, and big data analytics, have led toward the growth of financial advisory services market. In addition, with increase in digitalization, financial advisory services providers are looking forward to quickly invest on client engagement by providing digital and voice-enabled assistants.
Key findings of the Study
- By type, the corporate finance segment accounted for the largest global financial advisory services market share in 2020.
- By region, North America generated highest revenue in 2020.
- By industry vertical, the BFSI generated the highest revenue in 2020.
Companies Mentioned
- Bank of America Corporation
- BCG Group
- Goldman Sachs Group Inc.
- JPMorgan Chase & Co.
- Morgan Stanley
- Deloitte
- mckinsey & company
- KPMG
- Pwc
- Wells Fargo & Co
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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